Intel just awarded a $75,000 scholarship to a very, very happy looking young man named Ionut Budisteanu for creating a system that offers the same performance as Google's autonomous car system for about 5% of the cost. He created a system that, rather than using a $75,000 radar system, uses a much cheaper radar set up to gather "big-picture" information, and a camera array for details and lane recognition. Budisteanu's system costs about $4,000. 

No doubt a bevy of carmakers are already harassing the guy.

Related: Expect to See Semi-Autonomous Cars in Five Years
Related: Autonomous Cars are Being Studied by the Federal Government

[via Intel